SC/ST Bank sought on lines of Mahila Bank to help Dalit and tribal entrepreneurs

In order to help Dalit and tribal entrepreneurs, the All India Confederation of SC/ST Organisations – Parisangh – urged Prime Minister Narendra Modi to open a separate bank. The proposal put forward is to start a bank with Rs 1 lakh in capital.

New Delhi: In order to help Dalit and tribal entrepreneurs, the All India Confederation of SC/ST Organisations – Parisangh – urged Prime Minister Narendra Modi to open a separate bank. The proposal put forward is to start a bank with Rs 1 lakh in capital.

Parisangh Chairperson Udit Raj said continuous attempts were being made to finish off reservation.

He said a seperate bank for SC/ST (Scheduled Caste and Tribes) would help in reducing surplus liabilites on the private and public banks due to the demonetization of Rs 500 and Rs 1,000 notes.

"The cost of lending will come down due to demonetisation. It will be beneficial to the economy if a SC/ST bank with a capital of Rs 1 lakh crore is created as a public sector bank on lines of the Mahila Bank," Udit Raj said.

The BJP MP said this would enable low cost lending to SC/ST entrepreneurs.